Deutsche Asset Management has expanded its Singapore investment management team by hiring Ernie Tam and bringing back Amy Low from its London office, a net gain of one, says Andrew Fay, Sydney-based CIO for Asia Pacific.
The move was partly precipitated by the transfer of senior investment director Terrence Grey to New York last year, opening a hole. But the firm has also sought to expand its capacity. Fay says neither Tam nor Low is an exact replacement for Grey; rather they represent the firm's growing regional presence.
Tam, for example, will help DeAM's Korea equity team construct portfolios as regional portfolio manager. The firm now has 10 investment professionals in Seoul. Tam comes from Baring Asset Management, where he had served for seven years, responsible primarily for Korea and Taiwan.
For Low, this marks a return to her native land after three years seconded to London. She also has the title of regional portfolio manager, covering Singapore and Malaysia equities. She leaves DeAM's global banking sector team, where she had selected Asian stocks for emerging market funds.
Fay believes the investment team is now set, with 16 pros in Singapore, two in Hong Kong and four in India (plus the 10 in Korea). "Down the track, we may add in India, where our assets are growing fast," he says.
It is in India that DeAM has just launched two more domestic equity funds. The Deutsche Investment Opportunity Fund and Deutsche MIP Fund attempt to outperform the BSE 200 Index and a debt portfolio trying to beat the CRISIL Blended MIP Index, respectively.
Since the firm opened shop in India, it has garnered Rp2,700 crores (E470 million, $600 million), distributing funds directly, via Deutsche Bank's wealth management group, and third-party channels. DeAM's global AUM totals E573 billion ($732 billion), with E3.25 billion ($4.2 billion) managed in Asia Pacific ex-Japan.